Deirdre Clune (Cork South Central, Fine Gael)

How does the Tánaiste's answer square with last week's ISME survey, which found that 58% of companies have been refused credit by banks, an increase from what was found in a previous survey? The survey also found that 83% of SMEs feel the banks are making it difficult for them to access credit and that European Investment Bank loans have not been marketed to SMEs. Following the banks' recapitalisation and last September's guarantee scheme, funding is still not flowing to small and medium-sized enterprises and many of them are finding it extremely difficult to operate in the current financial circumstances. These are not fledgling businesses; they have been established for ten years or more and have a sound profitable base. Many of them have to let staff go and others fear for their future.

Will the Tánaiste outline how European Investment Bank loans will be channelled to small businesses? Many candidates in the European elections, particularly those in the Tánaiste's party, have commented on how valuable these will be for small and medium-sized enterprises, yet surveys and feedback to Members of this House tell us that this is not happening. It is a constant source of concern.

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